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boehner, basically had a deal in place, it ended up getting blown up at the last minute. i think there is a, perhaps, a new conciliation on both sides. i think they were waiting for the election to get over. i think the attitudes are positive on both sides. and i think they've got the framework for a deal already set up from last year. so i don't think that there are any closer but i also don't think they were that far away last year in 2011. >> do you think that closing the loopholes would be enough for a deficit reduction package? >> it doesn't appear that that's going to raise enough revenue to get to where the democrats want that to be. republicans say they don't want to raise rates. there are some -- there's some budget chicanery that can go on in terms of dealing with one baseline instead of another baseline. that's what it looked like boehner wanted to do last year. there are a lot of different options here. it's interesting, bill kristol from the weekly standard appeared to be talking to grover norquist, the anti-tax activist in those comments that he played earlier, talk
's about to happen in this building in an hour from now. speaker boehner, senator mcconnell, senator reid, democratic leader pelosi, all will come here and speak for a couple hours. day one of negotiations. nobody is expecting huge news but as jim has already tweeted out this morning, the market is going to look for signs that this tone of compromise that we've heard so much about all week long is that for real or are talks going to break down in early stages? the market specifically is going to depend on that tone today and we'll bring that live when the meeting happens a little after 10:00 a.m. >> we've seen reaction of futures to the possibility of a deal. we've been down for six of the past seven days but the dow this morning implied open is up 33 points. sapp looks s&p looks to add fiv. here we have italy down three-quarter percent and mixed bag for the rest. carl? okay. we're going to go to the road map this morning. that is where carl is in washington d.c. reports this morning that hard decisions surrounding deficit reduction could be kicked down the road until 2013 in favor of a s
in the washington post this morning. a picture of president obama and john boehner. the upbeat tone was a dramatic shift from recent years when the president and a gop fortified by anti-government activists clashed repeatedly over spending and taxes. if he were to go to yesterday's new york times, they have a listening are at least pictures of the key leaders that will be involved in this process. to show you where they stand specifically on some issues, here is the president saying he will reject any bill that extends tax cuts for the wealthy. here is john boehner who has said raising tax rates is unacceptable and a new revenue should be generated by economic growth spurred by a simpler tax code and that closes loopholes and and deductions. there are some other leaders involved in this project. what do you think they will be able to do to keep the fiscal cliff from happening by the end of the year? that meeting taking place at the white house. here is some video from it. if you are looking at that again and you want to wait and on this topic, you can call in. your confidence on congressional lead
with both speaker boehner and president obama coming out talkital talking about the fiscal cliff. this week we'll see a round of negotiations capped off by a meeting at the white house between congressional leaders and executive branch coming up on friday. where are they going to end up? there are a lot of solutions kicking around town. the final deal is probably going to end up looking like at least one of these different proposals. let me walk you through four of them here so you get a sense of where we might be headed starting with the simpson bowles plan. they would cap the mortgage industry deduction at $400,000. they would also tax capital gains and dividends as ordinary income and they would have the employer sponsored health care exclusion phased out. that would be a big tax increase there. another plan that's floating around out there, you would see mortgage interest deduction limited to $25,000 of interest. capital gains and dividends here also taxed as ordinary income and the state and local tax deduction would be repealed. the gang of six plan is another one that's kicking aroun
that can be had. i think both the president and speaker boehner have indicated they're willing to give that a shot. >> thank you, gentlemen. good to see both of you and thanks for your work on behalf of the american people. congressman steve nortorette of ohio and congressman john ridgelle from virginia. >>> well, it could still push this economy over the edge. what president obama can do in his second term, next. is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ] to learn more about the cold truth and save $1 visit alka-seltzer on facebook. we have so much technology in our store to really show the customers what's going on with their bodies. now you can feel what happens as we raise your sleep number setting and allow the bed to con
speaker boehner said and said, look, let's work on closing these loopholes and deductions. that is common ground. there's no reason why -- >> that would raise taxes on people. this is where you get this fight in the republican party. because if your taxes go up but your tax rate doesn't go up, is that a sell republicans can live with? >> it depends how it's mixed up. we don't want to raise the tax rate. if you're closing loopholes and broadening the base, lowering the rate, then i think we could get there. >> you signed groemp norquist's pledge i'm going to assume because pretty much every congressman did. >> yes. >> would you be fine doing a compromise where you would go against your signature on that pledge. if you felt there was a compromise on the table -- >> i do not -- i do not -- >> to the pledge -- dramatic, wasn't it? >> it was dramatic. >> but i need these notes so i'm going to put them back like that. >> i do not intend to do that. i want to fight for the principles i believe in. i, too, was elected, and i think that's part of the give and take. >> grover norquist was not elect
in congress are another. they have to come together. speaker boehner said he's willing to entertain more revenue. the president should take him up on that offer and they ought to come together and find some way through this. the republican party has got to take a good luook at what its future holds but a good start will be coming together to solve this problem. >> governor, nancy pelosi of course out this morning says she's going to run again for some leadership in the congress. is that a signal that the white house is going to remain more partisan perhaps than some hope? >> actually, i don't think so. you know, nancy pelosi was the one who produced the votes for the financial bailout. you all recall that. there weren't republican votes even when president bush proposed it and secretary paulson. nancy found the votes. nancy is good at finding the votes out of our progressive wing and the president will need votes from our progressive wing and nancy is a good person to do that. >> we'll see how things go down this afternoon and later in the week. governor, lanhee good to see you back. don
experiences during the first four years of obama. when obama and john boehner said down to negotiate very soon, will the gop give a little on this? will they get enough so we can get a resolution? my guess is no. i do not think the defeat was as clear enough to signal that kind of change. we do see if you people like bill kristol saying why are we [unintelligible] it is not -- the economy did great. there is a belief that there is an automatic relationship between the level of taxation on the wealthy and economic growth. you look back at american history, there is an inverse relationship over the last 80 years between level of economic growth and taxation on the wealthy. what will happen? we might sail over the fiscal cliff. that phrase invented by ben bernanke. but relax. the fiscal cliff is the kind of thing that only exists if washington allows it to happen. washington sometimes seems like a school where the teachers set the deadline and then change them. if we do still over the fiscal cliff, there are little maneuvers the treasury can do to make sure that we do not, even if sequestration a
Search Results 0 to 10 of about 11 (some duplicates have been removed)